Chainlink (LINK) is currently priced at $13.33, experiencing a 24-hour decline of 2.59%. The daily trading range is narrow at 0.45%, indicating low volatility, with the price oscillating between a high of $13.78 and a low of $13.33 during this period.

Trading volume stands at approximately $348.25 million, corresponding to 3.74% of its market cap, which suggests moderate interest from traders. The hourly moving averages reveal a bearish trend, with the 8 SMA at $13.57 showing a decline of 1.76% and longer-term SMAs (55 and 144) reflecting even steeper declines of 2.88% and 3.94%, respectively.

The short-term sentiment is further confirmed by the 1-hour RSI at a low 22, indicating potential oversold conditions. In contrast, the 7-day RSI at 47 suggests that LINK is approaching neutral territory but has not yet entered a bullish phase, given its recent price drop of 5.51% over the past week.

From a longer-term perspective, LINK has seen a marginal increase of 0.25% over the past 14 days, yet it has declined 4.16% in the last 30 days. The all-time high remains significantly above the current price at $52.70, reached in May 2021, which reflects the potential for recovery but also highlights the steep distance from current valuations.

Given the current bearish trend, low RSI, and limited trading range, a cautious stance is warranted. Therefore, the recommendation for Chainlink (LINK) is to Hold, as waiting for clearer signs of a trend reversal or significant volume spikes could provide a more favorable entry point for potential upside.